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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (75427)	4/19/2001 7:55:53 AM
From: Digitom	Read Replies (2) \| Respond to of 99985

Haim, you're in the WSJ.com this morning... Another diehard bear on Wednesday was Haim Branisteanu, a corporate-turnaround specialist in New York and frequent message-poster at Silicon Investor (www.siliconinvestor.com). He says he hasn't bought stocks since last year. Despite the interest-rate cuts, Mr. Branisteanu says tech stocks will languish as more companies are forced to write down inventories and investments. The move by Cisco Systems Inc. Tuesday to write down a whopping $2.5 billion worth of inventory is just the start, he says. "The game has changed, and I don't think it matters so much what the Fed does about interest rates," he says. "Financiers are more cautious." Write to Peter Edmonston at peter.edmonston@wsj.com or Aaron Elstein at aaron.elstein@wsj.com and Stacy Forster at stacy.forster@wsj.com